Bank of China (BOC) and American Express today announced a new strategic partnership, whereby Bank of China will begin issuing American Express-branded credit cards in China. Under the terms of this agreement, Bank of China will issue the Bank of China Private Bank American Express(R) Card – Bank of China's first credit card designed for its private banking customers.
The new card offers VIP banking services, access to premium golf courses, fast-track service through immigration and security at select airports and unlimited access to lounges in major airports around the world. Cardmembers can also enjoy special benefits and privileges across an array of hotels through the American Express Entre program, as well as offers from merchants around the world through American Express Selects. In addition, the card provides access to a 24-hour concierge service, comprehensive overseas relocation services and healthcare and wellness services provided by Raffles Medical Group. The card also provides dual currency functionality, with two accounts in RMB and U.S. dollars, respectively.
"American Express is a leading global brand that is recognized for providing premium services to affluent customers around the world. The launch of this new card marks the first milestone of our long-term partnership, and we look forward to offering our private banking customers exclusive privileges and benefits that they can enjoy both in China and when travelling abroad," said Xiangqun Zhong, General Manager, Credit Card Center, Bank of China.
"China is a key growth market for American Express, and we are delighted to partner with Bank of China to offer the first American Express-branded credit card that targets the fast-growing, private banking customer segment in China. The launch of the Bank of China Private Bank American Express Card represents an important opportunity to further expand the reach of our brand and offer world-class benefits and services to the growing number of affluent consumers in China," said Dave Keung, Vice President and Group General Manager, American Express Global Network and Merchant Services, American Express.
About Bank of China
As the most international and diversified bank in China, Bank of China provides a comprehensive range of financial services to customers across the Chinese mainland, Hong Kong, Macau and 29 countries overseas. The Bank's core business is commercial banking, including corporate banking, personal banking and financial market services. BOC International Holdings Limited, one of its wholly-owned subsidiaries, is the Bank's investment banking arm. Bank of China Group Insurance Co., Ltd. and its subsidiary and affiliated companies run the Bank's insurance business. Bank of China Investment Management Co., Ltd, its controlling subsidiary, operates the Bank's fund management business. BOCG Investment Limited, a wholly-owned subsidiary, undertakes the Bank's direct investment and investment management business. BOC Aviation Private Limited is in charge of the Bank's aircraft leasing business. In terms of tier one capital, the Bank was ranked 11th among the world's top 1,000 banks by The Banker magazine in 2009.
Bank of China has upheld the spirit of "pursuing excellence" throughout its nearly 100-year history. It is widely recognized within the industry and by its customers for its prudent operations and customer-centric business concepts. With historic opportunities now arising, Bank of China will stay true to its sustainable approach to development and remain focused on its goal of becoming a premier international bank.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third-party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide. American Express has now established over 130 partnerships in more than 130 markets around the world. Learn more at americanexpress.com/gns.